India's lithium reserves are calculated to be around 14,100 tonnes, concentrated in Karnataka, Kerala, and Tamil Nadu. However, the numbers may seem less than lithium-rich countries like Chile and Australia. Still, it is significant for India's EV industry's growth.
India has the largest energy consumers in the world. As a result, the nation has taken efforts towards sustainability and clean energy sources. The critical factor in this transition is adopting electric vehicles (EVs). Lithium-ion batteries are the primary energy storage technology utilized in EVs. Therefore, the availability of lithium reserves in India is vital for the EV dream of the nation.
The lithium reserves in India encourage invention in the EV industry, especially in developing cutting-edge battery storage solutions. Moreover, as India adapts to EVs, the innovation would pave the way for developing more efficient and reliable batteries, further driving EV adoption.
The lithium-ion batteries in EVs are essential for sustainable development and to reduce carbon emissions. The availability of lithium reserves in India will strengthen the country's transition toward a sustainable future. In addition, the adoption will positively impact the environment, particularly in cities where pollution from hectic traffic is a major problem.
The developing lithium mining and processing industry will widen employment opportunities and expands economic growth. As a result, the sector will positively influence the overall economy and deliver multiple possibilities for capable workers in the EV industry. Even in this way, EVs will improve India's living standards.
The lithium resources in India will reduce the production cost of lithium-ion batteries for electric vehicles, making the EV 2, 3 & 4-wheelers more affordable for buyers. This will drive the demand for EVs, increase production, and pace the adoption. Also, the nation will achieve its goal of sustainable development easier.
India relies more on imports for its lithium-ion batteries, as it is primarily sourced from China. However, the lithium reserves in Kashmir, India, will reduce the country's import dependence and strengthen the supply chain in EV industries. This will lead to a stable and protected supply of lithium-ion batteries, thereby speeding up EV production and adoption.